Polygon's AggLayer: A Vision for Unifying Blockchain
Polygon, a prominent player in the blockchain space, has recently unveiled a new product called AggLayer, aimed at addressing the fragmentation that has hindered the growth of digital assets. In an exclusive interview, Afra Wang engages with Marc Boiron, the CEO of Polygon Labs, to discuss this innovative solution. Boiron articulately outlines Polygon's strategy to establish itself as a crucial bridge within the increasingly congested blockchain ecosystem. As competition becomes fiercer and market dynamics shift, Polygon is betting on the capabilities of AggLayer to unify various blockchain networksa vision that, while ambitious, faces numerous challenges.
Marc Boiron's journey to the forefront of blockchain leadership is quite unique, having traversed an unconventional path through the legal sector. Before taking the helm at Polygon Labs, he served as the Chief Legal Officer at dYdX and had a comprehensive background as a partner at several prestigious law firms in the U.S., where he advised on cryptocurrency matters since 2017. Speaking about his transition to the blockchain sector, Boiron expresses his excitement about joining a team committed to scaling Web3 in innovative ways.
The timing of this conversation is notable as Boiron is set to be a speaker at the upcoming Consensus festival in Toronto, scheduled for May 14-16, where industry leaders will converge to share insights and advancements.
In a dialogue with CoinDesk, Boiron reflects on Polygon's mission, which they describe as building an 'Internet of Value.' This term is intriguing, yet it raises questions about its practical implications. Boiron clarifies, stating that Polygon aims to create a trustless internet that allows users to interact with their assets freely and efficiently. The first step towards achieving this vision is through AggLayer, which is designed to act as a universal settlement layer across the cryptocurrency landscape.
Boiron emphasizes that the 'Internet of Value' presents a stark contrast to the current 'Internet of Information.' While the latter has revolutionized how we access and share knowledge, Web3's breakthrough lies in its ability to facilitate the transfer of actual value on-chain. The significant challenge, as Boiron points out, is scaling this capability throughout the entire digital ecosystem. Presently, numerous blockchains exist, but to transition from merely sharing information to transferring value seamlessly, there must be a cohesive unifying solution. This is where AggLayer comes into play.
When asked about the technical aspects of AggLayer, Boiron explains that it is engineered to consolidate all of Web3 onto a single settlement layer. One critical gap in the current ecosystem is the lack of a secure method for transferring assets between different chains. AggLayer aims to fill this void by providing a reliable and rapid means of transferring assets, with successful transactions occurring in less than two seconds.
What sets AggLayer apart from other cross-chain infrastructures is its unique approach to asset transfers. The system actively monitors all assets moving in and out of various chains. When a user attempts to transfer an asset from one chain to another, AggLayer employs a
Isabelle Moreau
